Newsweek, the second-largest news weekly magazine behind Time, has announced it will cease print publication with the December 31, 2012 issue and transition to an all-digital format that will be called Newsweek Global. The announcement was made today by Newsweek editor Tina Brown who also edits the magazine’s sister online site, The Daily Beast. The two merged in 2010. Newsweek was to have celebrated its 80th anniversary this coming February.